Paramount Resources Proposes Purchase Of MGM Energy Shares

Paramount Resources Ltd. (TO: POU.TO) proposed to purchase all common shares of MGM Energy Corp. (TO: MGX.TO) that it did not already own, MGM Energy said March 11. Paramount currently owns 54,147,432 common shares of MGM Energy, representing about 13.9% of the total issued and outstanding shares, the company added.Per the proposal, MGM Energy’s shareholders would receive one Class A common share of Paramount for every 300 shares of MGM Energy, the company added, noting that due to Paramount’s current $45 per share trading price on TSX, this amount represents...